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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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From: RealMuLan	2/2/2005 8:10:01 PM
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-ggg--"Boeing jets drafted into Chinese military" 07:02 PM PST on Tuesday, February 1, 2005 By GLENN FARLEY / KING 5 News SEATTLE – The Bush Administration is investigating whether China is buying airplanes from Boeing under false pretenses. There is evidence that Boeing jets have now been drafted into the Chinese military. It was just last Thursday, when Boeing announced its biggest sale to China in years. The $7 billion order for 60 7E7s was enough to get Boeing to officially announce the plane's permanent name change to 787 Dreamliner. KING This Boeing 737-300 has been modified in the Chinese Air Force with a radome on the roof. China is expected to become the single market for airliners outside of the United States. The key word is "airliners," because when American-made jets become military platforms in China and some other countries, there's a problem. The attention is focusing on a picture of a Boeing 737-300 – a plane that's been modified in the Chinese Air Force with a radome on the roof. In an article in Tuesday's Washington Times, an expert in the Chinese military saw the plane at an air show late last year and it's believed the radome may be used for electronic surveillance or have something to do with development of Chinese cruise missiles. Exports of high-tech U.S. products, including airliners, are regulated by the Department of Commerce's Bureau of Industry and Security. If China has violated U.S. export laws, sanctions could include barring the sale of Boeing jets to China. Boeing is withholding comment saying that all of this is now in the hands of the government. But mum appears the word of the day. A spokesman for the Commerce Department will only say his agency is looking into the matter, appearing that for now at least this is falling short of a full-blown investigation. The Bureau of Industry and Security regulates so called "dual-use" technologies like airplanes as well as software and other sensitive technologies. king5.com ======================================================== Personally, I hope the US bans BOeing sale to China. Maybe that would force China to reexamine their policy and try everything they can to develop their own large-size civil airplane<g>

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